Nordea Investment Management AB boosted its holdings in shares of Arconic Inc. (NYSE:ARNC) by 41.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,279 shares of the basic materials company’s stock after acquiring an additional 42,702 shares during the quarter. Nordea Investment Management AB’s holdings in Arconic were worth $3,639,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. LMR Partners LLP raised its holdings in Arconic by 1,508.5% in the 3rd quarter. LMR Partners LLP now owns 265,543 shares of the basic materials company’s stock worth $6,607,000 after purchasing an additional 249,034 shares during the period. ING Groep NV acquired a new position in shares of Arconic during the third quarter valued at approximately $835,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Arconic by 266.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 291,712 shares of the basic materials company’s stock valued at $7,258,000 after acquiring an additional 212,016 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Arconic by 27.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 28,431 shares of the basic materials company’s stock valued at $708,000 after acquiring an additional 6,109 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Arconic by 33.6% during the third quarter. Macquarie Group Ltd. now owns 16,700 shares of the basic materials company’s stock valued at $416,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.
Shares of Arconic Inc. (ARNC) opened at $24.65 on Wednesday. Arconic Inc. has a 52 week low of $18.47 and a 52 week high of $30.69. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $11,758.75, a price-to-earnings ratio of 23.95 and a beta of 0.85.
Arconic (NYSE:ARNC) last posted its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.09 billion. The business’s revenue was up 3.1% compared to the same quarter last year. equities research analysts predict that Arconic Inc. will post 1.16 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is currently -15.09%.
ARNC has been the subject of several recent research reports. Zacks Investment Research cut Arconic from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley reaffirmed a “hold” rating and issued a $27.00 price target on shares of Arconic in a report on Tuesday, October 24th. Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research report on Tuesday, October 31st. Deutsche Bank set a $31.00 price objective on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Vetr lowered Arconic from a “buy” rating to a “hold” rating and set a $27.97 price target for the company. in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.75.
Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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